MSE News: Santander launches cashback current account

Scrounger

Captain_JMac wrote: »

Worked out it will pay me back £40 a year after the fee.

Plus £55 Quidco/TC cashback = £95 in the first year. :beer:
Scrounger

Captain_JMac

Scrounger wrote: »

Plus £55 Quidco/TC cashback = £95 in the first year. :beer:
Scrounger

Yeah unfortunately I already applied for the account before I saw this thread, but I have an existing account with Santander anyway so I think that precludes me from the £55 bonus :-(

Scrounger

I don't think an existing Santander account would preclude you the cashback.

I would apply for another 123 account via Quidco/TCB and cancel the first - tell them it was opened in error.

Sounds mad - but my mother now has 3 123 current accounts set up (2 are soon to be closed) !!

Scrounger

molerat

doug63 wrote: »

ecoelle wrote: »

This is useful link to see if your usual shops are included in the cash back on the cc. Just highlight the type of cashback, either supermarket, department store or petrol, or all 3, then type in the suburb, town or city you live and hit enter. I was surprised that some stores i expected to be included, like Aldi, were not, but some stores, like a local independent health food store, were. Worth checking before you shop to make the most of the cashback on offer:)


Aldi do not accept Credit Cards, nor do Lidl. Expect this is why Aldi is not on the list.

Aldi and Lidl in England do not accept CC's, they do in Scotland.

ecoelle

Thanks, that would explain why they are not on the list then:~) never use a cc so wasn't aware that they didn't accept them.

al25

I was informed that the £24 annual fee for 123 Credit Card will be waived off if I applied for both along with the 123 current account.
Wonder how accurate this is?

Scrounger

al25 wrote: »

I was informed that the £24 annual fee for 123 Credit Card will be waived off if I applied for both along with the 123 current account.
Wonder how accurate this is?

100% correct - see here under 'Annual Fee'.

Save even more....
And for both new and existing 123 Credit Card customers, we'll refund the first year's credit card annual fee if you also open a 123 Current Account and set up a Direct Debit from this account within 30 days of opening to pay your 123 Credit Card. Offer ends 30.06.2012. †

Don't forget £20 + £55 Quidco cashbacks for applying. :beer:

Scrounger

katies_mum

Its good to hear that the first years credit card annual fee for the 123 Credit card will be refunded if you open a 123 Current account, but thinking in advance to next year, would any of you pay £24 for the pleasure of having a credit card, or are you just going to use it and get the cash back for 12 months then ditch it?
Only wondering as we have never paid for the priviledge of having a credit card! Thanks

Scrounger

You not only get the £24 fee refunded but also an additional £20 from TC/Quidco.

As you say, it is a more difficult decision to make in the second year, especially if you have already have other cashback cards available. Also depends how much fuel you buy.

One solution that crossed my mind was to cancel at the end of the year and take a new card out in the OH's name (hopefully via a cashback site to offset the fee) and keep alternating between us like this every year.

However, I've now rather spoilt this plan as I just couldn't resist applying for another set of accounts (123 CA + 123 CC) in her name in order to get another lot of £75 cashback!

Scrounger

katies_mum

We already have Santander current accounts and if going for cashback would have to open new accounts rather than transfer.. not sure what we are going to do. I like life to be easy.. do new DD`s and S/O`s have to be done or can you get them to transfer them over once the account is up and running. (not sure how the cashback works if you are existing customer) Thanks